FTX Settles With Five State Agencies Over $1.8 Billion in Claims: Five states have struck a deal with FTX Trading Ltd. to forgo their pursuit of nearly $1.8 billion in claims, allowing those funds to go to other unsecured creditors.
J&J Lifts Baby Powder Settlement Bid to More Than $8 Billion: Johnson & Johnson has boosted to more than $8.2 billion its offer to settle thousands of lawsuits by people who say its baby powder gave them cancer, according to people familiar with the matter.
Steward Health CEO Held in Criminal Contempt by Senate Committee: US senators investigating the collapse of Steward Health Care voted Thursday to pass civil and criminal contempt resolutions against the embattled health system’s chief executive officer after he defied a subpoena to testify about his role in the alleged mismanagement of the firm’s funds.
Terraform Labs’ Bankruptcy Plan Cleared Over Creditor Objections: Terraform Labs Pte. won approval of its liquidation plan after a bankruptcy judge overruled the objections of some retail users of the fallen digital asset platform.
Yellow’s Failed PBGC Fight Alters Pension Withdrawal Calculus: Employers must prepare for the risk of high costs if they drop out of multiemployer pension plans buoyed by federal bailout money, benefits attorneys warned after Yellow Corp. lost its challenge against rules for calculating withdrawal liability.
Infowars for Sale: Alex Jones’s Assets Again Debated in Bankruptcy Court - WSJ: The Justice Department’s bankruptcy watchdog argues that Infowars assets can’t be sold through bankruptcy auctions
Johnson & Johnson Announces that its Subsidiary, Red River Talc LLC, has Filed a Voluntary Prepackaged Chapter 11 Case to Resolve All Current and Future Ovarian Cancer Talc Claims | Business Wire: Red River filed the bankruptcy case after it received the support of the overwhelming majority (approximately 83%) of current claimants for the proposed bankruptcy plan
Last full-size Kmart store in continental United States set to close in October: Only two Kmarts remain in the 50 states: the full-size store that's closing in Bridgehampton, New York, and a smaller format store in Miami, Florida which remains open. The Miami store is more akin to a convenience store, selling basic necessities in a much smaller square footage than a traditional big-box Kmart.
Major movie theater chains unveil a $2.2 billion makeover plan | CNN Business: An industry group that represents the eight largest chains including AMC Entertainment, Regal Cinemas and Cinemark announced a multibillion dollar renovation plan that encompasses 21,000 screens — or nearly 70% of the North American box office — and affects every part of the theater experience from signage to snacks and snazzier seats
